Wednesday 23 August 2017

What it says in the papers: business pages

Here's a look at what it says in the business pages of this morning's papers:

Irish Independent

  • Bosses at Dublin airport have sought a time extension in their planning application for a new runway at Dublin airport. Work began on the runway in December and is due to be completed in 2020.
  • Technology entrepreneur Dylan Collins is exploring the possibility of a stock market flotation in London. Collin’s startup, SuperAwesome, makes it easy for advertisers to market to children. The move could raise up to €230m, according to sources in the City.
  • Irish distillers have undertaken a major €10m development in a move that will see the company boost production of its single pot range by 30pc.
  • The European Central Bank kept its monetary policy unchanged despite pressure from Germany to ease stimulus measures.
  • Ryanair and easyJet have been tipped as possible buyers for Aliitalia’s short haul operations. The struggling Italian carrier is losing around €500,000 a day.
  • Staff at State-owned AIB have been told they should accept a pay rise of 5.5pc. The deal will see employees at the bank receive a 2.75pc rise in wages both this year and next.
  • The former Governor of the Central Bank has said that Ireland’s model of low taxation to lure mutltinationals is “running out of steam.” Patrick Honohan called for more emphasis to be placed on long-term planning.

Irish Times

  • Galway businessman James Murphy has sold his hair restoration firm Viviscal for €150m.
  • Minster for Finance Michael Noonan has said there has been no talks between the Quinn family and IBRC about a possible settlement over loans of around €2.3bn which were owned by the now defunct Anglo Irish Bank.
  • Peer-to-peer lender Linked Finance has agreed a deal with French firm Eiffel Investments in a move that will see Eiffel fund 20pc of loans provided to SMEs.
  • Amsterdam is emerging as the main rival to Dublin for attracting investment in the aftermath of Brexit. Finance Minister Michael Noonan said that more than 100 financial firms had expressed an interest in coming to Dublin since the UK vote.
  • Citigroup ceo Michael Corbat has expressed the importance of the firm’s Dublin base in the wake of Brexit.

Irish Examiner

  • Brexit could cost the Irish economy 40,000 jobs and lead to a rise in national debt of €20bn, according to Department of Finance officials.
  • Car insurance, rents and education have posted the highest price increases since 2012, according to latest data released by the Central Statistic Office.
  • The firm that owns the Golden Pages returned to profitability in 2015, with pre-tax profits coming in at €2.4m.
  • Luring bankers from London after Brexit could depend on the quality of schools available in various cities around Europe.
  • Theresa May has said she values the contribution that banks make to the UK economy despite the fact that many of them are preparing to leave the country.

Online Editors

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